Metaplanet, a Japanese hospitality firm, reported record-breaking earnings in Q1 with revenue of $6 million, attributing 88% of it to its Bitcoin treasury strategy.
The firm increased its Bitcoin holdings by 3.9x to 6,796 BTC through consistent accumulation, ranking it as the 11th largest public company by bitcoin holdings globally.
Metaplanet raised 76.6 billion yen ($524.8 million) through a moving-strike warrant program to fund BTC purchases, achieving approximately 68% of its 10,000 BTC goal.
Despite an initial unrealized loss of $50.7 million on its BTC position by the end of Q1, Metaplanet saw unrealized gains of $92.5 million as of May 12, with a reported BTC yield of 170%.